Mumbai– Benchmark indices Sensex and Nifty closed lower on Wednesday as investors turned cautious ahead of the US Federal Reserve’s monetary policy announcement expected later in the day.
The Sensex fell 275.01 points, or 0.32 percent, to close at 84,391.27. The Nifty declined 81.65 points, or 0.32 percent, finishing at 25,758.
“Structurally, Nifty continues to face strong supply in the 25,940–26,050 zone, keeping the broader setup range-bound to mildly bullish,” market watchers said.
“A decisive breakout above 26,000 remains essential to revive upside momentum. On the downside, a sustained break below 25,700 could expose the index to 25,600–25,500, with volatility expected to intensify near these support clusters,” they added.
Bank Nifty also ended slightly lower, signaling a pause in the ongoing uptrend rather than a reversal. The index opened near 59,280, rose to 59,440, then dropped to an intraday low of 58,850 before closing around 58,990, down nearly 0.4 percent.
Among Sensex components, Tata Steel, Sun Pharma, and ITC were the top gainers. Eternal, Trent, and Bharti Airtel were the major drags on the index.
Sentiment weakened across the broader market as well. The Nifty MidCap 100 fell 1.12 percent, while the Nifty SmallCap 100 slipped 0.90 percent.
Consumer durables stocks saw the steepest decline, with the Nifty Consumer Durables index dropping 1.72 percent. IT and PSU bank stocks also retreated, falling 0.89 percent and 0.70 percent, respectively.
In contrast, the Nifty Metal and Nifty Media indices ended the day in positive territory, emerging as the top sectoral performers.
“Focus now shifts to the upcoming US Fed meeting, where a 25-bps rate cut is widely expected,” experts said.
“However, internal divisions and mixed economic indicators may temper expectations for further rate cuts in 2026,” they added. (Source: IANS)
